[pbjnj]

How should money taken from an LLC to pay personal bills be posted? And how should it be closed out each year if it is through a members equity account? TX

[morgaine300]

If they're personal bills, then it would be like one of the partners just taking the cash out themselves. There's it's a distribution for them, so it's going to debit into their distribution account (whatever you are calling it). It closes with the rest of the distributions - there is nothing different about just because it went directly to their bills. A distribution is a distribution. Since it's an LLC I'll assume you're closing things out to their capital accounts, so it debits out of there and credits out of the distribution.